Telus Corp. (TSX:T) reported 2011 first-quarter revenue of $2.5 billion, an increase of 6.5%. The increase was generated by 11% growth in wireless revenue and nearly 2% growth in wireline revenue, both driven by strong data revenue growth.
According to today’s release, the company added 52,000 new wireless subscribers and that – along with the continued growth in the smartphone market and accompanying data plans – drove a 44% surge in wireless data revenue.
This represents the second consecutive quarter of growth in wireless data and the highest figures since since mid-2006.
Telus reported earnings of $986 million, an increase of 4.6% from the previous quarter, and net income of $328 million, representing a year-over-year increase of 20%.
Darren Entwistle, Telus president and CEO, said, “These quarterly results demonstrate the success of Telus’ strategy for driving data growth in our wireless and wireline businesses and providing a leading range of services and products for consumers and businesses alike.
“Underpinned by our strategic network investments and Telus’ continued momentum in the market, we are generating accelerating sales of smartphones and continued strong Optik TV and high speed Internet sales.”
Jennifer Harrison